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Net Loss Per Share (Notes)
 6 Months Ended
Jun. 28, 2020
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) per Share
The Company applies the two-class method to calculate and present net income (loss) per share. The Company's non-vested share awards and Series B Preferred Stock contain non-forfeitable rights to dividends and are considered participating securities for purposes of computing net income (loss) per share pursuant to the two-class method. Under the two-class method, net earnings are reduced by the amount of dividends declared (whether paid or unpaid) and the remaining undistributed earnings are then allocated to common stock and participating securities, based on their respective rights to receive dividends. As the Company incurred a net loss for the six months ended June 28, 2020, and losses are not allocated to participating securities under the two-class method, such method is not applicable for the aforementioned interim reporting periods.
Basic net income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted net income (loss) per share reflects additional shares of common stock outstanding, where applicable, calculated using the treasury stock method or the two-class method.
The following table sets forth the calculation of basic and diluted net income (loss) per share:
 
Three Months Ended
 
Six Months Ended
 
June 28, 2020
 
June 30, 2019
 
June 28, 2020
 
June 30, 2019
Basic net income (loss) per share:
 
 
 
 
 
 
 
Net income (loss)
$
7,842

 
$
(3,732
)
 
$
(14,367
)
 
$
(15,201
)
Less: Income attributable to non-vested shares
(158
)
 
—

 
—

 
—

Less: Income attributable to preferred stock
(1,199
)
 
—

 
—

 
—

Net income (loss) available to common stockholders
$
6,485

 
$
(3,732
)
 
$
(14,367
)
 
$
(15,201
)
Weighted average common shares outstanding
50,916,758

 
41,051,354

 
50,868,929

 
38,548,246

Basic net income (loss) per share
$
0.13

 
$
(0.09
)
 
$
(0.28
)
 
$
(0.39
)
Diluted net income (loss) per share:
 
 
 
 
 
 
 
Net income (loss)
$
7,842

 
$
(3,732
)
 
$
(14,367
)
 
$
(15,201
)
Shares used in computing basic net income (loss) per share
50,916,758

 
41,051,354

 
50,868,929

 
38,548,246

Dilutive effect of preferred stock and non-vested shares
9,415,059

 
—

 
—

 
—

Shares used in computing diluted net income (loss) per share
60,331,817

 
41,051,354

 
50,868,929

 
38,548,246

Diluted net income (loss) per share
$
0.13

 
$
(0.09
)
 
$
(0.28
)
 
$
(0.39
)
Shares excluded from diluted net income (loss) per share computations (1)
—

 
17,755,355

 
10,652,278

 
17,755,355



(1)
Shares issuable upon conversion of preferred stock and non-vested shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive.